The firm joins County Capital Wealth Management, also trading as Pension Review Service, which regained its transfer permissions in August.

The FCA requirement to cease all defined benefit (DB) pension transfer business still applies to three other firms which voluntarily stopped this business after the regulator intervened in the wake of the steelworkers’ pension saga.

From the remaining seven firms still operating, three of them have opted to leave the pension transfer market all together. This is the case of Acklam Financial Limited, West Wales Financial Services and Pembrokeshire Mortgage Centre.

In a March letter to independent Labour MP Frank Field, chairman of the Work and Pensions Committee, the regulator listed 10 firms which voluntarily gave up their permissions.